How to Start Pharmaceutical Business

Important point in Pharma Franchise Marketing You should have price list with products that are available with you at regular basis. Don’t add products that aren’t available at you or you can’t fulfill at short span. You should also remove all products that you have discontinued or going to discontinue due to less demand or repeated expiry of stock. You can get party order based upon manipulated price list but can’t keep distributor for long time as they will easily understand your trick. Pharma Franchise business is based upon long term partnership with customer. A pharma Franchise Company only get benefited if a pharma franchise distributor remains associated with them for long time period.  Prices should be reasonable and same for a particular location for all distributors.  Keep your term and conditions simple and easy to understand. Don’t hide any point to associate with prospect. This make ruin your relationship with your party in future. Make clear all term and condit...

Video Language is Hindi Chapter 6: Sales Lead follow-up in Pharma Franchise Marketing In previous chapter, we have discussed about different ways of generating leads and prospect’s contact details, promote and advertise pharmaceutical company for generating franchise queries. We will discuss about follow-up here in pharma franchise marketing . You need to learn about follow-up because good follow-up may lead to convert a lead into business and spammy follow-up may damage your and your company reputation. Follow-up is must to do for pharma franchise marketing. You need to take regular follow-up with prospect periodically but you should make sure not to spam and irritate others with your follow-up. You can send reminder mails or massages or make calls etc.  How to follow-up? First you need to make a list of all leads in excel or any other ways that you receive This list should contain Firm name, contact person name, address if you have, phone number, e-mail address and follow-up dat...

Video Language is Hindi Chapter 7: Close a Sale In previous chapter, we have discussed about follow-up of franchise queries. In this chapter, we will discuss about finalizing your pharma franchise distributor and close a sale. You have made regular contact with prospect during follow-up. As we have discussed in previous chapter, there are generally four types of queries you will receive. During follow-up, some queries will convert into your distributors and some will not. That’s the part of game. You can’t convert all queries into sale. In Pharma franchise marketing, we generally consider that parties that come through your promotion and advertisement will associate with you at your term and condition and parties to whom you approach and try to give you distribution, will try to impose their own term and conditions. So, you should try to promote your business so prospects come to you and work with you at your term and conditions. You need to make regular follow-up with leads you recei...

Video language is Hindi Chapter 4: Identify Would be Customers (Prospects) in Pharma Franchise Marketing First rule of sales is to identify prospect. A prospect is an individual or business whom have possibility of becoming your customer in near future. You can’t waste your time to call or approach every person/business in pharmaceutical sector to introduce your product or ask for becoming your franchise. This is frustrating and useless way of spamming. You call fifty of persons daily and e-mail to hundreds of e-mail Id’s but get back hardly any. Problem is not in your efforts but problem is that you are approaching to wrong persons. Like other businesses, in pharma franchise marketing , you need to know who could be your future customers and to whom you need to reach to ask for becoming your franchise distributor. In this chapter, we will try to identify who can be your prospect or future customer. For completing a sale, a business needs a product/service, a salesperson and a customer...

Video Language is Hindi Chapter 5: Lead Generation and Approaching the Prospect (would be customers) We have identified that who could be our targeted prospects in our last chapter. In this chapter, we will try to reach to prospects, lead generation and approach them for taking our pharma franchise distribution. This will refine our prospect reach as we will concentrate only on those prospects that could be our customers, not every doctor, retailer, distributor or sales professional. There are generally two ways to generate new leads and business. Reach to prospect Advertisement and Promotion Both of cases have own advantage and disadvantages. We can find prospect through either we reach to proposed customer or we advertise and promote our business so prospect react to us.  Reach to prospect: Reaching to prospect includes travel to prospect destination, cold calls, promotional massages and e-mails, social media contacts etc. In this way, we collect information about prospects throu...

Part 2: Sales Process: After completion of basic knowledge part. We have reached at sales process where we have to learn have to generate sale for our company. Purpose of basic knowledge part is to clarify doubt arise by your prospect during face to face or telephonic discussion. It’s like to learn basic road safety rules and procedures and vehicle manuals before start driving. You may skip that but it’s always advised to have basic training and knowledge of sign board instructions, vehicles functionality, rules, regulations and guidelines etc. Likewise, before proceeding in pharma franchise sales and marketing, you need to have basic knowledge of pharmaceutical industry, terminology and other aspects. Sales process will cover Chapter 4: Identify Prospect (Proposed customer Chapter 5: Lead Generation and Approaching the Prospect Chapter 6: Follow-up Chapter 7: Close the Sale Next: Chapter 4: Identify Prospect (Proposed customer  Previous: Chapter 3:  Know About Pharmaceutical ...

Language in Video is Hindi Chapter 3: Know About Pharmaceutical Industry and Pharma Terminology We have learned very detailed information about pharmaceutical industry in our basics like what are the drugs, types of drugs, how to sell, market size, growth opportunities. In this chapter we will know about common pharmaceutical terminology use in Pharma Franchise Marketing . Sales Types: We have covered in our Basic Knowledge of Pharmaceutical Industry section Net Rates: Net rates are the rates at which a pharmaceutical company sells a product to pharma franchisee. These rates may be exclusive or inclusive of GST and Freight. Price to Retailers (PTR): Price to retailer is the price at which pharma franchisee distributor sell products to the pharmacy or chemist shop . These prices may also be exclusive or inclusive of GST. Price to Stockist (PTS): Price to Stockist is the price at which pharma franchisee distributor sell products to the distributor or stockist . If pharma franchisee work...

Language used in Video is Hindi Chapter 2: Know About Pharmaceutical Company and What a Franchisee Distributor Wants? In previous chapter, we have discussed in detail about What is Pharma Franchise? Pharma Franchise Model, Benefits, Profitability Ratio (Profit Margins) etc. Now pharma franchise marketing and concept is clear. We can forward to next step i.e. to know about pharmaceutical company; we are working. Knowing about company, we are working or giving or taking franchise is one of the most important things to clear all doubt arising during conversion with prospect. Here prospect means person who are interested in taking pharmaceutical company franchise or we are making cold calls to convince him/her to associate with us as a franchisee. As much as we have knowledge about pharma company , its products, strengths, weaknesses, competitions etc and what a prospect wants. We can handle him/her with more confident and clarify all his doubts. What we should know about our pharmaceuti...

Video Language is Hindi What is Pharma Franchise? Pharma Franchise Model, Benefits, Profitability Ratio (Profit Margins) etc Franchise marketing meaning is different in different industries. For understanding Pharma Franchise Model, we will need to understand the basic concept of franchising in different businesses. What is Franchise? A Franchise is type of business operated by an individual or group known as Franchisee by using the trademarks, branding and business model of Franchisor. In simple words, Franchise is type of distribution model where Franchisor is a company and Franchisee is individual/group that is distributing or selling franchisor’s products/service. Franchisor is providing all rights to franchisee to use trademark, brand names, products, business model and conduct business . Franchise Models in Different Industries There are generally two models of franchising. One is Business Format Franchise and Second is Product distribution Franchise. Business Format Franchise: I...

Video Language is Hindi Part 1: Basic Knowledge of Pharmaceutical Industry This article will help you to understand pharmaceutical sector deeply and increase your practical pharma knowledge, not theoretical knowledge. This basic knowledge of pharmaceutical industry will help you to understand types of medicines, how does sales and marketing works, market size, growth opportunities, marketing types etc. In bottom of article, you can move to next part of your pharmaceutical knowledge and know about more about pharmaceutical industry and pharmaceutical terminology by clicking at that link. What is Pharmaceutical Industry?   Pharmaceutical Industry is defined as the industry which are related to medicinal drugs or their preparations, manufacturing, use and sale. The pharmaceutical industry involves in discovering, research, development, production and marketing of drugs and medicinal products . What is Drugs and Medicinal Products?   Drugs and medicinal products inc...

Pharma Franchise Marketing Course Introduction: In this course, we will learn about pharma franchise marketing. This course will be helpful for all fresh candidates and experienced one that are joining any of pharma franchise company as sales and marketing executive. Purpose and aim of this course is to teach about how can you be successful in finding franchise distributors for your pharma franchise company. This course will have two parts and seven chapters. We will start with basics and gradually proceed toward learning techniques and methods for finding franchise distributors and finalizing the parties for pharma company . Part of this course is as follow: Part 1: Basic Knowledge of Pharmaceutical Industry : Chapter 1: What is Pharma Franchise? Pharma Franchise Model, Benefits, Profitability Ratio (Profit Margins) etc Chapter 2: Know About Pharmaceutical Company and What a Franchisee Distributor Wants? Chapter 3: Know About Pharmaceutical Industry and Pharma Terminology Part 2: Sale...